U.S. Department of Commerce Invests $690,795 to Support Business Growth in Menomonie, Wisconsin
WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $690,795 grant to the city of Menomonie, Wisconsin, to make infrastructure upgrades at the University of Wisconsin’s Stout Technology and Business Park and spur additional economic growth and investment. This EDA grant, to be matched with $690,795 in local investment, is expected to create nearly 470 jobs and generate $2.8 million in private investment.
“The Economic Development Administration plays an important role in helping communities implement their plans to provide the vital infrastructure that businesses need to be successful,” said Craig Buerstatte, Deputy Assistant Secretary of Regional Affairs. “This EDA investment will help meet the need for more industrial and commercial space in Menomonie by expanding the capacity of the Stout Technology and Business Park.”
“Our UW schools are economic drivers for communities across our state, and UW-Stout’s Technology and Business Park is a critical part of this important work,” said Governor Tony Evers. “Now more than ever, we have to work to kickstart innovation, invest in infrastructure, and support ingenuity and the Wisconsin Idea to ensure our state bounces back from the coronavirus pandemic, and we appreciate President Biden’s continued support for our efforts.”
“This federal investment in Wisconsin will support the great work UW-Stout does and help create jobs and economic growth in Menonomie,” said Senator Tammy Baldwin. “We are thankful to the Biden Administration for showing that they are committed to being a strong partner in moving our economy forward.”
“I’m glad to see this funding to help upgrade infrastructure at UW-Stout’s Technology and Business Park,” said Congressman Ron Kind (WI-03). “This investment will help generate economic growth in Menomonie, create jobs, and ensure Wisconsin communities can continue to innovate and thrive.”
This project will extend road and utility infrastructure to the technology and business park, which is home to nearly 65 businesses, and add an additional 74 city-owned acres for development and business expansion to the park.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.